** Potential Partner in S. Korea **
Monday May 10, 9:25 am Eastern Time
Company Press Release
Synthetic Blood International, Inc. Announces Talks with Potential Partner in South Korea
KETTERING, Ohio--(BUSINESS WIRE)--May 10, 1999--Synthetic Blood International, Inc. (OTCBB:SYBD - news) announced today that it is discussing a potential partnership with a South Korean pharmaceutical company.
The partnership, if established, would initially cover the development and registration of SYBD's Oxycyte(TM), a perfluorocarbon based blood substitute, in South Korea.
"The South Korean company is a leading manufacturer of pharmaceuticals, including large-volume intravenous products," said Robert Tao, Ph.D., SYBD's Far East agent for business development. "The company believes that the South Korean government and defense department will provide support to fund the development of Oxycyte in South Korea."
Tao initiated early discussions with the South Korean company and has asked Robert Nicora, SYBD's President, to meet with the company. Nicora is expected to travel to South Korea soon to join further discussions. Nicora's visit may lead to the signing of a letter-of-intent between the two companies, at which time the South Korean company will be announced.
In addition to developing Oxycyte(TM), SYBD is developing Fluorovent(TM), a perfluorocarbon liquid ventilation product, and an implantable glucose biosensor for continuous monitoring of blood glucose levels in diabetics.
Synthetic Blood International is located in Kettering, Ohio, with West Coast offices and laboratories in Newport Beach, California. The company's stock is traded on the OTC Electronic Bulletin Board, symbol SYBD. The company's Web site is http://www/sybd.com and e-mail address is sybd@siscom.net.
Contact:
Synthetic Blood International, Inc.
Joan Mahan, 800/809-6054 |
